’ .

{b) As security for the due and proper performance of all the
covenants and agreements in this Contract contained the Developer
covenants and agrees to deposit with the Municipality by Letter of
Credit the sum of Seventy Thousand Forty-five ($70,045.00) Dollars.

{c) The Developer further covenants and agrees to contribute
forthwith te the Municipality the sum of Seven Thousand Three Hundred
Sixty-four ($7,364.00) Dollars being the net total of these amounts set
out in Section 2 ef Schedule "D" hereto required to facilitate servicing
of the developzent proposed herein and which the Municipality covenants
and agrees to appl; to the cost of those works and services set ovt in
the said Sectioa 2 of Schedule "D" hereto.

(2) The Developer agrees that if the works specified herein are
not completed pursuant to the provisions of this section and the aforesaid
Schedule "D", the Municipality may complete the works at the cost of the

Developer and deduct from the deposit held by the Municipality the cort

of such completion, and the balance of the deposit shall be returned to

the Developer, less any administration fees required. If there is
insdfficient money on deposit with the Municipality, then the Developer
will pay such deficiency to the Municipality immediately upon receipt of
the Municipality's bill for completion. It ‘ts understood that the
Municipality may do such work either by itself or by contractors employed
by the Municipality. If the works are completed as herein provided,

then the deposit, less administration fees, shall be returned to the

Be zeloper.

Upgrading of Public Works:

13, The Developer covenants and agrees‘to apply for a building
permit under the provisions of the "City of Port Coquitlam Building and
Plumbing Code Adninistration By-law, 1974, No. 1298" and pay the requisite

ouilding permit and plumbing permit fees prescribed therein.

Deposit of Debris on Roads and Nuisances:
14, The Developer ‘covenants and agrees not to deposit any material
or debris upon any soads during the construction of the said work and to
‘continuously carry on the construction of the said work in a good and
proper workmanlike manner causing as little disturbance to neighbouring
properties as is reasonable under the citcumstances. In the event that
any material or debris should be deposited upon any road during the
construction of the work or should the construction by the Developer
constitute a nuisance to neighbouring properties of the work the Developer
covenants and agrees that the Municipality may forthwith remove such
material or debris or put right such nuisance at the expense of the
Developer, the cost thereof to be determined by the Engineer. In the
event that construction of the work ceases for any period of time in
“excess of thirty days the Developer cevenants snd agrees that the
Municipality may forthwith enter upon the property end construct thereon
a solid board fence not greater than eight feet in height nor less than
six feet in height surrounding the entire perineter of the project and
that in so doing the Municipality accepts no responsibility for the
suitability or adequacy ef the said fence erected for the benefit of the
said Developer and for which the Developer covenants and agrees to
accept full responsibility and to save harmless the Munictpality fron
each and every action and claim which nay be brought or arise as a
result thereof. Jn the event that any invoice of the Municipality for
the removal of such material or debris or construction of the fence
shall remain unpaid after thirty days of receipt of the same by the
Developer the Municipality is authorized to deduct the amount of such
invoice from the deposit: referred to “in Section 12 hereof.
Maintenance of Yorks by Developer: .
The Developer covenants and agrees to:

(a) Maintain all of the said works to be built pursusst to this

Contract in complete repair for a period of one (1) year from the

completion thereof as certified by the Municipal Engineer.